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How do calculate the closing price of the day benchmark

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Reference no: EM132618799

The market opens at 9:30 AM, at which point 15,000 shares of ABC stock trade at $35.66 a share.

  • You decide to trade to buy 1,800 shares of ABC at 10:50 AM. The best bid and ask prices at this time are $36.05 and $36.08, respectively.
  • Another trader's order executes at 11:25 AM at a price of $36.20 for 850 shares. The best bid and ask prices at this time are $36.20 and $36.22, respectively.
  • At 11:59 AM, 690 shares of your order gets executed at a price of $36.05. The best bid and ask prices at this time are $36.20 and $36.05, respectively.
  • Another trader's order for 3,000 shares is executed at 2:16 PM at a price of $36.15.
  • At 3:50 PM, another 795 shares of yours are executed at $36.03. The best bid and ask prices at this time are $35.99 and $36.03, respectively.
  • Finally the market closes at 4 PM, when the best bid and ask prices are $35.91 and $35.94, respectively.
  • Assume that there are no other transactions in ABC stock during the day.

Problem 1: Calculate the 'closing price of the day' benchmark?

Option A 35.83

Option B 35.03

Option C 36.83

Option D 36.03

Reference no: EM132618799

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